Equipo ViaParaguay
On September 21, 2026, in New York, Paraguay's president, Santiago Peña, met with businesspeople Santiago Jariton, María Bertha Peroni and Daniel Hiller, who presented him with a project for Asunción's Costanera Norte: an arena, an events center, a hotel and a shopping mall. Reporting on that mission, the government put the proposal at an estimated USD 700 million and said it still depends on municipal and environmental approvals.
What Was Presented
The meeting took place on the same day Peña opened, in that city, the Paraguay Investment Forum, an event with investors held on September 21 and 22 at the offices of Bank of America and J.P. Morgan. According to the report from the Presidency, picked up by ABC Color and Última Hora, the initiative seeks to transform the Costanera Norte — the capital's waterfront avenue, on the Paraguay River — into a commercial, tourism and entertainment hub.
What the First Stage Would Include
According to the same report, the first stage would include an arena, an events center, a hotel and a shopping mall. About 100 shows a year are projected for the arena, plus some 80 additional events at the events center, such as exhibitions, fairs and conferences. The report also mentions the creation of direct and indirect jobs, without figures.
Who Is Behind It
The arena would be managed by Daniel Hiller, a Chilean businessman whom the report describes as a partner of Live Nation in Chile and Peru; Live Nation is one of the world's largest promoters of live entertainment. According to Última Hora, Santiago Jariton is an executive at Jariton Inmuebles and María Bertha Peroni is a Paraguayan architect with a master's degree from Harvard.
The Amount and What It Depends On
On September 29, presenting the results of the New York mission at a press conference led by the Minister of Industry and Commerce, the government listed among its announcements a proposal to build an events arena on Asunción's Costanera, for an estimated USD 700 million, which still depends on municipal and environmental approvals, according to ABC Color. In other words, it is a proposal, not a confirmed investment. According to the report from the Presidency, the executive project is in its final stage and construction is expected to begin in early 2027.
In that same presentation, the government estimated investments of more than USD 1 billion following the mission, most of them still under evaluation.
What Has Not Been Reported
The site (exact location, area and ownership), what the estimated amount covers and its breakdown, the capacities of the arena, the hotel or the shopping mall, and the opening date have not been made public.
For Those Looking at Asunción
For anyone considering living in, investing in or visiting Asunción, this is for now a proposal worth following, not a project under way. To get your bearings in the city, see the zones of Asunción for investing in real estate and the guide to Asunción's neighborhoods. If you are interested in the capital's leisure scene, there is our piece on gastronomy, nightlife and culture in Asunción and, for planning a trip, the Paraguay travel guide. Those who want to ask about investing or setting up in Paraguay can write to the ViaParaguay team through the contact form.